Mike Rose Buys 5,000 Shares of Tourmaline Oil Corp. (TSE:TOU) Stock

Key Points

• Mike Rose, a senior officer at Tourmaline Oil Corp., recently purchased a total of 5,000 shares at an average cost of C$58.36, along with multiple earlier purchases, indicating strong insider confidence in the company's stock.
• Tourmaline Oil Corp. declared a quarterly dividend of $0.35 per share, representing a 2.4% yield based on an annualized payout of $1.40.
• Analyst ratings for Tourmaline Oil are mixed, with two holds and seven buy ratings, reflecting a consensus rating of "Moderate Buy" with an average price target of C$76.18.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) Senior Officer Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average price of C$58.36 per share, for a total transaction of C$291,793.00.

Mike Rose also recently made the following trade(s):

• On Monday, July 7th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$62.92 per share, for a total transaction of C$314,601.00.
• On Thursday, July 3rd, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$63.79 per share, with a total value of C$318,960.00.
• On Wednesday, June 25th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$64.68 per share, with a total value of C$323,379.00.
• On Friday, June 13th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$65.92 per share, for a total transaction of C$329,583.50.
• On Friday, May 30th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.76 per share, for a total transaction of C$313,824.50.
• On Thursday, May 15th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$63.63 per share, with a total value of C$318,169.00.
• On Monday, May 12th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$62.98 per share, with a total value of C$314,917.00.
• On Friday, May 9th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$62.82 per share, for a total transaction of C$314,097.50.

Tourmaline Oil Trading Up 0.5%

TOU stock traded up C$0.28 during midday trading on Thursday, reaching C$58.28. 556,999 shares of the company's stock traded hands, compared to its average volume of 2,259,772. The company has a market capitalization of C$21.72 billion, a P/E ratio of 13.16, a PEG ratio of 1.72 and a beta of 1.30. The business has a 50-day moving average price of C$63.19 and a two-hundred day moving average price of C$64.41. Tourmaline Oil Corp. has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 8th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.4%. Tourmaline Oil's dividend payout ratio is currently 31.61%.

Wall Street Analyst Weigh In

TOU has been the subject of a number of recent research reports. UBS Group reduced their price target on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research report on Thursday, April 17th. Desjardins upped their price target on Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a research report on Tuesday, April 15th. ATB Capital increased their target price on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lowered their price objective on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Finally, Raymond James Financial downgraded Tourmaline Oil from an "outperform" rating to a "market perform" rating and lowered their target price for the company from C$76.00 to C$74.00 in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$76.18.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.